Binance 'potential security issue' sees $2.54 billion frozen by the likes of Circle, Tether
According to reporting by CNBC US Markets, Binance, the world's largest crypto exchange, said it was actively investigating the matter and that funds are "completley safe."
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According to reporting by CNBC US Markets, Binance, the world's largest crypto exchange, said it was actively investigating the matter and that funds are "completley safe."
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Several crypto firms, including Circle Internet Group and Tether, on Thursday froze $2.54 billion of funds tied to a potential hack on cryptocurrency exchange Binance.
The world's largest crypto exchange by daily trading volumes didn't explicitly confirm that it has suffered an exploit.
"Our teams are aware of reports of a potential security issue and are actively investigating," a Binance spokesperson said. "Rest assured that user funds are completely safe." Binance also said on X that Binance Alpha trading had been temporarily suspended, and that "the current verified total frozen is $2.54 billion."
Binance founder and former CEO Changpeng Zhao said in a post on X that user funds were safe and that he expected all customer funds to be fully covered. Zhao, who no longer runs the exchange, also said the incident appeared to be a hack.
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Information in this article was compiled directly from records provided by CNBC US Markets. Access the primary source document at: https://www.cnbc.com/2026/10/29/circle-tether-freeze-funds-impacted-by-potential-binance-security-issue.html. Reporting and editorial review conducted by the USA NOW News Desk.
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